Sep 19, 2021

Mawazo Writing Africa

Writing about the main

‘Complete rebuild’ for Springfield Value Centre after R400m unrest and looting damage

The Springfield Value Center (SVC) in Durban won’t reopen until next year as the busy complex was damaged during riots and looting in July.

SA Corporate Real Estate (SAC), the JSE-listed Real Estate Investment Trust owned by SVC, confirmed that the looted and damaged shopping center was from spring 2022. < / span>

Sharmaine Ramsahai, center manager at Broll who runs SVC, said the entire center was hit during the riots. She said 85% of the center had been so badly damaged that it would need to be completely rebuilt.

“The rest of the center required significant renovation as large areas were damaged by fire, which also resulted in electrical, mechanical and structural damage,” she said.

Only Pick n Pay is traded in the center.

“The reconstruction and repair work is expected to be more than 12. last up to 18 months. We will start with the renovation shortly after the order has been placed and the bid has been accepted, “said Ramsahai in demand” for space in the center.

“Our current tenant mix is ​​strong and our tenants want as soon as possible return to trading. With the renovation, we have the opportunity to further strengthen our tenant mix with new tenants. ”

Ramsahai said SAC is determined to invest in its properties.

“Given the effects of Covid-19, we know that many people have become unemployed and people are desperate. Not only during the construction phase, but also by offering new retail opportunities, new employment opportunities can be created for the local community by enabling tenants to start trading as soon as possible. ”